Listed by Gerspacher Real Estate Group
$950,000
1365 Kelso Drive
Details
Property Type Office
Sub Type Executive Office, Medical Office
Square Footage 6,144
Price per SqFt $155
Zoning Town Center
Rare Partially Leased Investment Opportunity
Marketing description
This rare freestanding two-unit, 6,144 SF office building sits on 1.61 acres and is partially leased to the Cleveland Clinic, making it ideal for an owner-occupier. The property offers 2,544 SF of space available for lease or owner use. The Cleveland Clinic lease runs through December 31, 2026, with two additional two-year renewal options extending through December 31, 2032, and includes a 120-day termination right. The existing lease generates $54,000 in annual rent, with the tenant covering 59% of taxes, insurance, and common area costs, and also includes a first right of refusal on the adjacent available space.
Investment highlights
- Available: 6,144 SF
- Suite 1: ±3,624 SF - office space (currently leased to the Cleveland Clinic)
- Gross Annual Rental Income: $54,000
- Suite 2: ±2,519 SF - unfinished office space
- Frontage: ±220'
- Depth: ±289'
- Signage at the street
- Parking: ±62 spaces
- Zoning: TC (Town Center)
- Highway Access: 0.4 miles from SR-75
- Annual Real Estate Taxes: $16,452.56
Listing Contacts
Listed by Gerspacher Real Estate Group
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